Deere completes partial sale of landscapes business

Dec 23, 2013, 13:52 ET from Deere & Company

MOLINE, Ill., Dec. 23, 2013 /PRNewswire/ -- Deere & Company (NYSE: DE) has completed its sale of a majority interest in its landscapes business to the private equity investment firm of Clayton, Dubilier & Rice, LLC. In October, Deere had announced it would initially retain a 40 percent equity interest in John Deere Landscapes and sell the remainder to CDR. John Deere Landscapes has more than 2,000 employees at approximately 400 locations in 41 states.

SOURCE Deere & Company